NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
Since the Creditors include persons who are subject to the so-called “Leo rules” in Chapter 16 of the Swedish Companies Act, the Set-off Issue has been made through two separate issue resolutions.
The first part of the Set-off Issue was resolved by the Company’s board of directors with the support of the authorization from the extraordinary general meeting on
The second part of the Set-off Issue was resolved by the Company’s board of directors subject to the subsequent approval of the general meeting and consists of a directed issue of 96,571,808 new shares to the Company’s chairman of the board Per Carendi (4,778,666 shares), the Company’s CEO
The reason for the deviation from the shareholders' preferential rights is to reduce the Company’s indebtedness by enabling set-off of existing debts incurred in order to meet the Company’s immediate liquidity needs and accrued compensations and secure a more favourable capital structure for the Company.
The new shares are issued at a price of
The Set-off Issue increases the number of shares and votes in the Company from 1,264,838,743 to 1,535,053,110 and the share capital from
IMPORTANT INFORMATION
Publication, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction.
This press release is not a prospectus for the purposes of Regulation (EG) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. The Company has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the Set-off Issue .
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in
In the
This press release does not constitute a recommendation concerning any investor’s decision to invest in the Company´s securites. Each investor or potential investor should conduct his, her or its own investigation, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results.
Forward-looking statements
This press release contains forward-looking statements that reflect the Company’s intentions, assessments, or current expectations about and targets for the Company’s future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this press release. Readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertakes to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release.
© Modular Finance, source